Pulmonx raises $66m to commercialize minimally-invasive emphysema treatment

May 5, 2020 By Sean Whooley

Pulmonx announced today that it raised $66 million in a financing round led by global life science investor Ally Bridge Group.

The Redwood City, Calif.-based company also received contributions from new investors Adage Capital Management, HealthQuest Capital, Partner Fund Management and Rock Springs Capital, along with existing investors. Pulmonx secured an additional $17 million in growth capital through CIBC Innovation Banking for refinancing an existing debt facility.

Pulmonx said in a news release that the proceeds from the funding are earmarked for the global commercial expansion efforts for the Zephyr Valve system for severe emphysema, a form of chronic obstructive pulmonary disease (COPD).

The Zephyr Valve system is an FDA-approved minimally invasive treatment option. Its treatment is performed through a bronchoscopy with no incision or tissue resection.

“We are pleased to be able to accelerate our efforts to bring our landmark technology to severe emphysema patients who need it,” Pulmonx CEO Glen French said in the release. “The recently secured financing will ensure we are able to continue to scale our commercialization efforts to meet the global demand for our Zephyr Valve system, as well as continue R&D efforts on new minimally-invasive pulmonary treatments.”

The most innovative medical device of 2020
Abbott (NYSE:ABT) announced today that it received the 2020 Prix Galien USA Award for Best Medical Technology for its MitraClip system. MitraClip, Abbott Park, Ill.-based Abbott’s minimally invasive transcatheter mitral valve repair (TMVR) system, was chosen from a field of 17 other nominees, according to a news release. MitraClip is delivered to the heart through a… […]
Medtech employees favor Biden in last stretch of presidential campaign fundraising
Former Vice President Joe Biden is outraising incumbent President Donald Trump nearly 3-to-1 among medtech employees and their families, according to a Medical Design & Outsourcing analysis of OpenSecrets.org data. Check out our breakdown covering 25 of the largest companies. Medtech companies’ employees and their families have donated more than $1.3 million to Biden, versus… […]
6 early medical devices that might make your spine tingle
Medical Design & Outsourcing has made an annual effort during “spooky season” to shed light on some early medical devices and innovations and the museums that hold them, but this year is a bit different. Last year, we visited the Earl Bakken Museum’s backroom to get a look at early medical devices. A few years… […]
Integer reports mixed results in Q3
Integer Holdings (NYSE:ITGR) today reported third-quarter earnings that beat the Wall Street consensus forecast on earnings — but not on revenue. The Plano, Texas–based medical device contract manufacturing giant reported profits of $30.3 million, or 92¢ per share, off sales of $236 million for the quarter ended Oct. 2, 2020, for steady bottom-line and a top-line… […]
Dunlee replacement CT tubes win FDA clearance
Dunlee this week announced that its DA200P40+LMB CT replacement tube received FDA clearance. The replacement CT tubes feature CoolGlide technology and is an alternative to liquid metal bearing replacement CT tubes for GE Revolution Evo and Optima 660 CT scanners. Liquid metal bearing in CT tubes doesn’t create friction, which results in less wear, according… […]
Cadence adds Class 8 cleanroom at Virginia HQ
Contract manufacturer Cadence announced the addition of an ISO Class 8 cleanroom at its headquarters located in Staunton, Va. The new cleanroom will be used for the development and manufacturing of novel medical devices. “We are excited about expanding the capabilities at our Virginia facility,” said Cadence operations VP Chris McHugh in a news release.… […]
Medidata acquires MC10’s digital biomarker business
Medidata announced that it has acquired the digital biomarker business of MC10 to help integrate data from wearable sensors — including clinical-grade metrics — so customers may make clinical trials virtual. MC10’s offerings will bring novel clinical analytics and biosensor capabilities to Medidata’s existing patient cloud solutions in ePRO (patient-reported outcomes), eCOA (clinical outcome assessments)… […]
What drugmakers need to know about analytical testing for drug-device combinations
Pharmaceutical manufacturers need to understand the compatibility and performance of the primary packaging system with both the drug and its delivery system. Jennifer Riter, West Pharmaceutical As more pharmaceutical manufacturers develop combination products, they identify new and complex interactions among packaging components and delivery systems. Understanding this interplay is critical to developing a successful drug-device… […]
TE Connectivity beats The Street on lower Q4 sales
TE Connectivity (NYSE:TEL) today reported its healthcare sales were down by $16 million for the fourth quarter of its 2020 fiscal year. Schaffhausen, Switzerland-based TE Connectivity reported overall sales of $3.261 billion for the quarter ended Sept. 25, 2020, down 8.7% from the same quarter one year ago. Adjusted to exclude one-time items, earnings per share… […]
3M slightly down despite Street-beating Q3
3M (NYSE:MMM) shares took a slight dip today on third-quarter results that finished ahead of the consensus forecast. The St. Paul, Minn.-based company posted profits of $1.4 billion, or $2.43 per share, on sales of $8.4 billion for the three months ended Sept. 30, 2020, for a -10.7% bottom-line slide on sales growth of 4.5%. Adjusted… […]
Dynocardia lands spot in Dassault Systèmes startup accelerator
Medtech startup Dynocardia, which is developing a continuous, non-invasive blood pressure (BP) measuring device, announced today that it has been selected for the Dassault Systèmes 3DExperience Lab accelerator program. Participation in the accelerator could help Dynocardia expedite the development of its ViTrack technology, which the company touts as a solution to problems stemming from inaccurate,… […]